Singapore retail sales up 4% in June, missing forecasts
Most sectors record year-on-year growth in sales
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[SINGAPORE] The Republic’s retail sales rose 4 per cent year on year in June, extending the 2.9 per cent growth recorded in May, data from the Singapore Department of Statistics showed on Wednesday (Aug 5).
This was marginally lower than the expectations of private-sector economists, who had forecast a median 4.2 per cent growth, in a Bloomberg poll.
Most retail sectors recorded year-on-year growth in sales in June. The increase was led by recreational goods; watches and jewellery; and computer and telecommunications equipment.
Excluding motor vehicles, parts and accessories, retail sales increased 4.1 per cent, up from May’s 3.6 per cent expansion.
On a seasonally adjusted, month-on-month basis, retail sales increased 1 per cent in June, reversing May’s 2.2 per cent decline.
Excluding motor vehicles, parts and accessories, retail sales inched up 0.2 per cent on the month, against May’s 1.7 per cent contraction.
Retail sales categories
Year on year: 4 per cent
Year on year, excluding motor vehicles, parts and accessories: 4.1 per cent
Month on month, seasonally adjusted: 1 per cent
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Month on month, seasonally adjusted, excluding motor vehicles, parts and accessories: 0.2 per cent
Total retail sales value: S$4.2 billion
Year on year, sales grew in 10 of the 14 categories:
Recreational goods: 11.4 per cent
Watches and jewellery: 10.5 per cent
Computer and telecommunications equipment: 9.8 per cent
Petrol service stations: 8 per cent
Cosmetics, toiletries and medical goods: 8.3 per cent
Supermarkets and hypermarkets: 7.3 per cent
Motor vehicles: 3.6 per cent
Furniture and household equipment: 0.7 per cent
Optical goods and books: 0.4 per cent
Others: 0.3 per cent
These categories posted a decline:
Minimarts and convenience stores: -0.6 per cent
Food and alcohol: -0.7 per cent
Wearing apparel and footwear: -1.7 per cent
Department stores: -9.5 per cent
F&B services growth
Year on year: -2.3 per cent
Month on month, seasonally adjusted: -2 per cent
Food caterers: 4.4 per cent
Fast-food outlets: 0.7 per cent
Restaurants: -2 per cent
Cafes: -5.1 per cent
Food courts and other eating places: -5.4 per cent
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